GoCardless Raises $3.3 Million With Plans To Expand Across Europe
GoCardless, a UK payments startup, has raised a $3.3 million Series A round of funding, reports TechCrunch. Accel Partners and Passion Capital directed the funding. GoCardless was founded in 2010, and aims to help small to large businesses set up automatic bill pay, direct debits and recurring payments. GoCardless has a low percentage of failure rates because users don’t often switch accounts or information, in comparison to credit cards. There are more than 5,000 merchants in the UK using this system, and the startup has imminent plans to expand across Europe.
